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All Star Charts Crypto

Targets Hit, Now What?

March 4, 2024
Louis Sykes

Bulls remain in full control of the crypto tape, with Bitcoin retesting all-time highs. But as journalists talk of all-time highs, we're remaining mindful that this is a logical place for Bitcoin to consolidate its gains. The question that remains is how Bitcoin resolves from this significant level of supply, and looking further, how rotation impacts the speculative end.

All Star Charts Crypto

A Brewing Catch-Up Trade

February 28, 2024
Louis Sykes

Crypto markets continue to rally higher, lead by Bitcoin and Ethereum. Bitcoin finds itself a mere stone's throw away from its all-time highs, while Ethereum trades beneath a key level of resistance. With the risk vs reward tilting out of favor from the two largest crypto assets, it begs the question where well-defined opportunities lie in the crypto complex.

All Star Charts Crypto

Bulls Retain Control

February 26, 2024
Louis Sykes

Crypto markets continue to work their way higher, with Ethereum closing last week up +8% following a notable rally in weekend hours. The trend for crypto assets remains unequivocally higher, as we’ve alluded to in the past. As Nvidia beat earnings estimates, the equity market indexes have continued to rally higher, ignoring a number of bearish data points in the context of a seasonally weak period. It appears as if the bulls have full control of this tape.

All Star Charts Crypto

Morning Crypto Clarity: February 21, 2024

February 21, 2024
Louis Sykes

Good morning,

Welcome to your daily crypto clarity

1

 

 

WHAT YOU NEED TO KNOW

Ethereum eclipses 3,000 for the first time since April 2022.

Bitcoin order books are the most liquid since October, according to data from Kaiko.

Altcoin momentum is still not in frothy condition, with a mere 20% of our cryptocurrency universe registering overbought conditions.

 

FEATURED CHART

All Star Charts Crypto

Unfolding Opportunities Underneath the Surface

February 21, 2024
Louis Sykes

Both Bitcoin and Ethereum have surpassed psychological levels of $50,000 and $3,000, respectively, following impressive rallies. Now, the risk versus reward scenario tilts towards the speculative end, as indicated by our breadth metrics, which highlight increasing activity within the altcoin space. Simultaneously, equity markets confront a challenging seasonal period amidst a backdrop of a strong dollar.

All Star Charts Crypto

Morning Crypto Clarity: February 20, 2024

February 20, 2024
Louis Sykes

Good morning,

Welcome to your daily crypto clarity

 

WHAT YOU NEED TO KNOW

Ethereum seems to be following through on last week's momentum, with the ETHBTC ratio closing up +2.91% on Monday.

The Worldcoin token has seen an impressive, almost tripling as the platform surpassed 1 million daily users on its World App.

Ethereum staking deposits hit $85B, or 25% of the circulating supply.

 

FEATURED CHART

By all means, this is a Bitcoin-driven market, both in market returns and the prevailing narrative. Much of this has been centered around the recent Bitcoin spot ETFs, which for the first bring Bitcoin into the realm of traditional finance. But now, there are talks of a similar ETF for the second largest cryptocurrency, Ethereum. Financial services firm Bernstein said Ethereum is "probably the only other digital asset likely to get a spot ETF approval by the SEC", giving an approval a 50% chance by May and a 100% chance by year's end.

All Star Charts Crypto

Morning Crypto Clarity: February 19, 2024

February 19, 2024
Louis Sykes

Good morning,

Welcome to your daily crypto clarity

 

WHAT YOU NEED TO KNOW

Bitcoin's trend is unequivocally higher, with prices lingering around 50,000.

Last week saw the greatest net aggregate flow across all products, averaging just under half a billion dollars worth of inflows each day.

Microstrategy is up $4B on their Bitcoin bet.

 

FEATURED CHART

Open interest on Binance, the largest crypto derivatives marketplace, for both Bitcoin and Ethereum hit all time highs denominated in US dollars. As open interest rises, it points to growing attention from market participants in the derivatives market as new positions and contracts are continuously opened. As more positions are being opened, notable rises in open interest tends to proceed elevated volatility.